Copake Falls, New York Property Taxes
The median property tax rate in Copake Falls, NY is 1.50%, considerably higher than both the national median of 0.99% and the New York state median of 2.39%. With the median home value in Copake Falls at $279,875, the typical annual property tax bill reaches $4,016, exceeding the national median of $2,690. Property taxes in Copake Falls are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Copake Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Copake Falls or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Copake Falls, New York Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$4,198
$3,896
Ownwell’s Copake Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Copake Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Copake Falls to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Copake Falls, New York
Property taxes in Copake Falls, New York, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Copake Falls is 1.50%, significantly higher than the U.S. national median of 0.99%. Local government entities within Copake Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copake Falls estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Copake Falls' effective property tax rate to other areas and the national median. For comparison, the 12517 zip code has the highest median property tax rate of 1.50%, while the same zip code also represents the lowest median tax rate of 1.50%. Understanding how these figures compare with Copake Falls provides valuable insights into the varying tax landscape across Columbia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copake Falls Tax Rate
1.50%
Average Columbia County Tax Rate
1.71%
Average New York Tax Rate
2.39%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copake Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12517 | 1.43% | 1.46% | 1.50% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Copake Falls, New York
In Copake Falls, New York, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Columbia County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Copake Falls, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the median home price in Copake Falls is $279,875, with property tax bills ranging from $2,687 at the 25th percentile to $10,018 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 12517 has both the highest and lowest median tax bill at $4,016. Being aware of these valuation processes in Copake Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Copake Falls Assessed Value
$279,875
Average Columbia County Assessed Value
$284,810
Average New York Assessed Value
$255,644
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copake Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12517 | $127,488 | $179,938 | $279,875 | $453,562 | $667,700 |
Source: Ownwell
Property Tax Bills Across Copake Falls, New York
In Copake Falls, located in Columbia County, NY, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. Once the assessed value is established, the local property tax rate is applied to this amount to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Copake Falls, the median home price is $279,875. Property tax bills can vary significantly, with the 25th percentile tax bill at $2,687 and the 75th percentile at $6,661. The 90th percentile tax bill reaches up to $10,018. This variation in tax bills can significantly impact homeowners, as higher property taxes can increase the overall cost of homeownership. Compared to the national median property tax rate of 0.99%, the rates in Copake Falls reflect the local economic conditions and funding requirements for public services.
Average Copake Falls Tax Bill
$4,016
Average Columbia County Tax Bill
$4,915
Average New York Tax Bill
$5,938
Average United States Tax Bill
$2,690
Property Tax Bills Across Copake Falls, New York
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 12517 | $1,929 | $2,687 | $4,016 | $6,661 | $10,018 |
Source: Ownwell